<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2Rg9dL_0viCe56I00" alt="https://img.particlenews.com/image.php?url=2Rg9dL_0viCe56I00" width="820" height="510" >NAIOP Massachusetts has asked Boston officials to delay the Wu administration’s new affordability requirements for market-rate apartment and condominium projects, saying that implementing the rules will lead to a further drop-off in housing construction, reported the Boston Business Journal. The requirement, which bumps up the affordability component of a residential project to 20% from the current 13%, is set to take effect Oct. 1.In a letter to Boston housing chief Sheila Dillon and interim planning chief Devin Quirk, NAIOP Massachusetts CEO Tamara Small wrote, “the regulations will do nothing but further dampen already depressed housing production in the City of Boston, undermining the city’s goals for growth and further driving up the cost of market-rate housing.”Boston developers and others complain that new affordability- and climate-related rules make it more difficult, if not impossible, to build in the city and make an adequate return on their investment, the Business Journal reported.Join industry leaders at Connect Tri-State Multifamily on October 1 at Studio Gather, 45 Rockefeller Plaza, NYC. Learn from experts as they discuss the latest market trends, future development, and capital placement opportunities across the Tri-State multifamily landscape.ConnectInside The StoryPaul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&amp;As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).<h2>Apartment buildings for sale</h2>Check out the latest properties available on apartmentbuildings.com<ul><li>Boston, MABoston &amp; New England + Apartment Buildings</li><li>Listing Status:Available</li><li>Listing Type:Call for offers</li><li>No. of Units:7</li><li>Year Built:1899</li><li>Lot Size:0.04 Acres</li><li>Opportunity Zone:No</li><li>Holyoke, MABoston &amp; New England + Apartment Buildings</li></ul><ul><li>Listing Status:Available</li></ul><ul><li>Listing Type:Call for offers</li></ul><ul><li>Price:$6,950,000</li></ul><ul><li>No. of Units:72</li></ul><ul><li>Opportunity Zone:No</li></ul><ul><li>Price per unit:$96,527</li></ul></div></body>

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NAIOP Massachusetts Asks for Delay in Boston’s New Affordability Requirement

NAIOP Massachusetts has asked Boston officials to delay the Wu administration’s new affordability requirements for market-rate apartment and condominium projects, saying that implementing the rules will lead to a further drop-off in housing construction, reported the Boston Business Journal. The requirement, which bumps up the affordability component of a residential project to 20% from the current 13%, is set to take effect Oct. 1.